SAARC chamber unveils wide range of programmes

Kathmandu, March 15

SAARC Chamber of Commerce and Industry (CCI), today unveiled numerous programmes for this year.

The very first priority of SAARC CCI will be to put its effort to introduce the agenda of establishing SAARC industrial park for the transfer of technical know-how for industries and services in SAARC countries, and enhance the trade and investment relation among SAARC nations, said Suraj Vaidya, president of SAARC CCI.

Vaidya was appointed president yesterday for the next two years. He had served as the senior vice president in the earlier executive committee. As per the charter of SAARC CCI, a senior vice president is automatically appointed president after the completion of the tenure of the president.

Addressing a press meet here after being elected SAARC CCI President, Vaidya said that under his leadership, the chamber will focus on attracting intra-regional and foreign investment in infrastructure with shared benefits for the region, creating entrepreneurship and creating jobs in South Asia.

"The idea of the SAARC industrial park has already been agreed upon and welcomed by the governments of Bangladesh and Pakistan," Vaidya said.

He further said that SAARC CCI will play a catalytic role to encourage trade and investment relations among South Asian nations. In terms of trade and investment as well as connectivity, SAARC has most frail linkages as compared to other regional economies. Intra-regional trade and investment is nominal as compared to total trade and investment of the region beyond the SAARC countries.

SAARC CCI is scheduled to discuss effective implementation of SAARC motor vehicle agreement and railway agreement in the near future in Kathmandu.

"In the future, connectivity of people will increase and political differences will be brought down, which will be instrumental for South Asia to move forward," Vaidya stated, adding SAARC CCI will also play an effective role in attracting foreign investment in SAARC countries in areas of their comparative strengths, where the region can share the benefits.

SAARC Chamber of Commerce and Industry has planned to organise investment conference in Dhaka on May 25 and 26, where the chamber is going to showcase the investment potential in South Asia.

The delegation of SAARC CCI is also scheduled to visit China on June 11 and 12, and United States in the third week of June in a bid to discuss investment opportunities in South Asia with the investors there.

Similarly, SAARC Trade Fair in Bhutan has been scheduled for the first week of September. The trade fair will be largely focused on development of small and medium enterprises (SMEs). SAARC CCI, in this regard, has also proposed SAARC Development Fund (SDF) to use the platform of SAARC CCI to bring the borrowers and lenders together for the development of SMEs in South Asia.

"There is a huge disconnect between borrowers and lenders, and through this initiative we hope to bridge the gap for SMEs development," Vaidya said.